How to prevent foreclosure - Do nothing - Allow property to be sold in auction

This is probably the least attractive of all options as a way of preventing foreclosure. Not only will the homeowner lose his or her house it will also destroy his or her credit at the same time. 

With all the available options, it is unfortunate when a foreclosure is resolved this way.  That is why it is so important for the homeowners in foreclosure to get the help they need.

If anyone contacts you and suggests that you do nothing and allow your house to be sold at auction it may be because they plan to buy your property.

I have heard stories where homeowners receive these calls and are told that they will get money back after the auction because someone plans to buy the property at or near full market value.  Unfortunately this is not usually the case as most homes selling at auction are sold for the amount of debt only, or less.